Back in April 2013...
"The “Xbox Mini” is not a 360 add-on, it is a stand alone product that contains Xbox 360 functions for gaming, and alone it is meant to compete with Apple TV. Since it is likely it will not have a disc drive, it is being designed with “always online” in mind, and with internet being required for Live functions. Xbox 360 Games can be played on it by purchasing Games on Demand on Xbox Live (for new purchases) or if already purchased, simply download it. This also applies to music and movies. To further clarify, the Durango will also have these (TV) functions, just with next-genration gaming hardware instead of Xbox 360 at a higher price."
The idea was you could connect it to your Xbox One for backwards compatibility. I don't know if it was dropped or put on hold. I would consider it if is was around $99.